Port District Obligations Sample Clauses

Port District Obligations. Subsequent to the execution and delivery of this Support Agreement, the Port District may at any time and from time to time issue or incur, as applicable, additional Port District Bonds, Parity Debt, Subordinate Obligations and Special Facility Indebtedness in each instance, as defined in and issued in accordance with, the provisions of the Port District Indenture. In addition to compliance with the provisions of the Port District Indenture, on or prior to the date of issuance of any additional Port District Bonds or the date of incurrence of Parity Debt or Subordinate Obligations (collectively “Future Obligations”, other than Future Obligations issued for refunding purposes) the Port District shall have placed on file with the Trustee: (i) a Certificate of the Port District certifying that the lesser of (x) the amount of Net Pledged Revenues for a period of twelve (12) consecutive months during the eighteen (18) months immediately preceding the date on which such Future Obligations will become Outstanding or incurred or (y) the estimated Net Pledged Revenues for the Fiscal Year in which such Future Obligations are to be issued or incurred shall have been, or will be, as applicable, at least equal, to 1.00 times Annual Debt Service on the Port District Bonds, Parity Debt, Subordinate Obligations, the Airport Note, amounts payable by the Port District under the County Funding Agreement and the amounts payable under this Support Agreement, in each case for each such Fiscal Year; and (ii) a Certificate of an Independent Consultant certifying that the projected Net Pledged Revenues for each of the first three (3) Fiscal Years immediately following the completion date of the Project (as such term is defined in the Port District Indenture) being financed from the proceeds of such additional Port District Bonds or Parity Debt, as specified in a Certificate of the Port District delivered to the Independent Consultant, will be at least equal to 1.00 times Annual Debt Service on the Port District Bonds, Parity Debt, Subordinate Obligations, the Airport Note, amounts payable by the Port District under the County Funding Agreement and the amounts payable under this Support Agreement. A copy of each Certificate of the Port District filed pursuant to this Section 3.03 shall be provided to the Authority and the City.
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Related to Port District Obligations

  • District Obligations District shall:

  • PROCUREMENT OBLIGATIONS Notwithstanding any other provisions of this Part B, where in this Part B the Customer accepts an obligation to procure that a Former Supplier does or does not do something, such obligation shall be limited so that it extends only to the extent that the Customer's contract with the Former Supplier contains a contractual right in that regard which the Customer may enforce, or otherwise so that it requires only that the Customer must use reasonable endeavours to procure that the Former Supplier does or does not act accordingly.

  • Local Church’s Payment Obligations At Closing or otherwise prior to or on the Disaffiliation Date, Local Church shall pay to the Annual Conference, in a manner specified by Annual Conference, the following:

  • Joint Obligations A. The University and the student share the responsibility for ensuring the quality of life within the residence halls, their maintenance, furnishings and facilities, and for a physical environment secure from fire and other hazards. The University will work with students to promote effective security of persons and property in the residence halls.

  • Authority Obligations The Authority shall be obligated:

  • Merchant Obligations (1) Merchant shall provide a valid, working administrative email address on enrolment. Any changes to Merchant’s account must be made via the administrative email address provided upon enrolment. The security of Merchant’s account is dependent in part upon Merchant maintaining the security of such administrative email address. Merchant shall be fully and solely responsible for any unauthorized changes to Merchant’s account via this email address. (2) Merchant will be given an ID code and password to allow Merchant to have access to Gateway Services. Merchant shall be fully and solely responsible for the establishment and maintenance of procedures to insure the control and confidentiality of identification codes and passwords and other access procedures (“Codes”). FAILURE TO PROTECT THE CODES MAY ALLOW UNAUTHORIZED PARTIES TO ACCESS THE GATEWAY SERVICES. Merchant is required to put in place internal procedures to limit such risk, including, but not limited to (a) changing the password at least once every 120 calendar days; (b) keeping every identification code under secure conditions; and (c) not keeping, in any form or in any place, any list of passwords. Merchant agrees to comply with any access or identification procedures and security protocols established from time to time by ISO, and if Merchant believes that any Code or security procedures has or may have become known by an unauthorized person (whether employed by Merchant or not), Merchant shall immediately notify ISO by telephone and confirm to ISO in writing such oral notification within 24 hours.

  • SAP OBLIGATIONS 3.1 Instructions from Customer. SAP will process Personal Data only in accordance with documented instructions from Customer. The Agreement (including this DPA) constitutes such documented initial instructions and each use of the Cloud Service then constitutes further instructions. SAP will use reasonable efforts to follow any other Customer instructions, as long as they are required by Data Protection Law, technically feasible and do not require changes to the Cloud Service. If any of the before-mentioned exceptions apply, or SAP otherwise cannot comply with an instruction or is of the opinion that an instruction infringes Data Protection Law, SAP will immediately notify Customer (email permitted).

  • Independent Obligations The Guarantor acknowledges that its obligations hereunder are independent of the obligations of the Issuer with respect to the Capital Securities and that the Guarantor shall be liable as principal and as debtor hereunder to make Guarantee Payments pursuant to the terms of this Guarantee notwithstanding the occurrence of any event referred to in subsections (a) through (g), inclusive, of Section 4.3 hereof.

  • Credit Union Lien and Security Interest To the extent you owe the Credit Union money as a borrower, guarantor, indorser or otherwise, the Credit Union has a lien on any or all of the funds in any account in which you have an ownership interest at the Credit Union, regardless of the source of the funds. The Credit Union may apply these funds in any order to pay off your indebtedness without further notice to you. If the Credit Union chooses not to enforce its lien, the Credit Union does not waive its right to enforce the lien at a later time. In addition, you grant the Credit Union a consensual security interest in your accounts and agree the Credit Union may use the funds from your accounts to pay any debt or amount owed the Credit Union, except obligations secured by your dwelling, unless prohibited by applicable law. All accounts are nonassignable and nontransferable to third parties.

  • COUNCIL’S OBLIGATIONS Save as otherwise expressly provided, the obligations of the Council under the Contract are obligations of the Council in its capacity as a contracting counterparty and nothing in the Contract shall operate as an obligation upon, or in any other way xxxxxx or constrain the Council in any other capacity, nor shall the exercise by the Council of its duties and powers in any other capacity lead to any liability under the Contract (howsoever arising) on the part of the Council to the Provider.

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